Salem Erode Investments announced a rights issue of up to 1,14,65,520 equity shares at an issue price of ₹20 per share, aiming to raise up to ₹2,293.10 lakh. The offer is open to existing shareholders on a one-for-one basis, with the record date fixed for September 3, 2026.

The issue opens on September 15, 2026, and closes on September 25, 2026. Shareholders can subscribe through the Application Supported by Blocked Amount (ASBA) process or via plain paper applications. The company has received in-principle approval from BSE Limited for listing the new equity shares.

Issue Structure and Pricing

The face value of each equity share is ₹1, with a premium of ₹19 per share. This sets the total issue price at 20 times the face value. Assuming full subscription, the company will raise ₹2,293.10 lakh. Applications must be submitted to Self-Certified Syndicate Banks (SCSBs) for ASBA applications or directly for plain paper submissions.

Promoter Renunciation and Specific Investors

Promoter ICL Fincorp Limited has opted to renounce its rights entitlements in favor of specific investors. The promoter is renouncing a total of 54,00,000 rights entitlements. These are distributed among 22 specific investors, including KG Anilkumar (23,00,000 entitlements) and Umadevi Anilkumar (21,00,000 entitlements). The remaining 20 investors have been allotted 50,000 entitlements each.

Any under-subscribed portion of the issue will be allotted to these specific investors in accordance with SEBI ICDR regulations.

Application Process and Timeline

Eligible shareholders must ensure their rights entitlements are credited to their demat accounts before the issue opening date. The last date for on-market renunciation is September 21, 2026. Unsubscribed or unrenounced rights entitlements will lapse after the issue closing date. Cameo Corporate Services Limited acts as the registrar to the issue, while Axis Bank Limited serves as the banker.

Salem Erode Investments has published the notice for its 95th Annual General Meeting (AGM) in national and regional newspapers on September 7, 2026. The publication appeared in The New Indian Express and Dinamani, confirming the schedule for the virtual meeting set for September 30, 2026.

The board convened on September 1, 2026, to finalize governance changes and schedule the AGM. The initial notice was submitted to the Bombay Stock Exchange on September 2, 2026. Pursuant to Regulation 36(1)(b) of the SEBI Listing Regulations, the company initiated sending a letter to shareholders whose e-mail addresses are not registered, providing a web-link for accessing the Annual Report. The dispatch of the Notice and Annual Report via email was completed on September 3, 2026.

Agenda Items

Shareholders will transact ordinary and special business during the meeting. Key agenda items include:

1. Adoption of audited financial statements for the financial year ended March 31, 2026.
2. Re-appointment of Ms. Umadevi Anilkumar as a director, who retires by rotation.
3. Re-appointment of Mr. A.A. Balan as an independent non-executive director for a second term.

Director Re-appointment Details

Mr. Balan will serve a five-year term effective from September 29, 2026, to September 28, 2031. He brings over six decades of experience in the construction industry and is a partner in Balan Construction Company. His re-appointment requires approval via a Special Resolution.

Ms. Umadevi Anilkumar (DIN: 06434467), spouse of Managing Director K.G. Anilkumar, offers herself for re-appointment by rotation. She holds an MBA and has over 12 years of experience in financial services. During FY25-26, she attended 10 board meetings and received ₹22,500 as sitting fees.

Mr. Balan completed his Civil Engineering course from the Madras Government Technical Education Board in 1957. He received the Vikas Ratna Award from the International Friendship Society of India. During FY25-26, he attended 14 board meetings and received ₹32,500 as sitting fees.

E-Voting and Logistics

The company engaged Central Depository Services Limited (CDSL) to facilitate remote e-voting. The voting period commences on September 27, 2026, at 10:00 am and ends on September 29, 2026, at 5:00 pm. The Electronic Voting System Number (EVSN) for the meeting is 260831024.

The record date for determining voting rights is September 23, 2026. The register of members will remain closed from September 24, 2026, to September 30, 2026. Proxy appointments are not available for this virtual meeting. Members holding shares in physical form who have not registered their email addresses are requested to do so with the Company or the Registrar and Transfer Agent.

Regulatory Compliance

The disclosure was made under Regulation 30 read with Part A of Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The details comply with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated July 11, 2023, last updated on January 30, 2026.